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WATER LABORATORIES, INC. FY 92 <br /> • <br /> Net Income $12,288 <br /> Depreciation 2,874 <br /> Amortization 3,097 <br /> Interest Exp. 2,247 <br /> TOTAL CASH FLOW $20,506 <br /> EXISTING DEBT SERVICE $ 9,937 <br /> EXCESS CASH FLOW $10,569 <br /> COVERAGE 2.06 times <br /> Based on historical performance and backing out annual rent expense of $3,150, Water <br /> Laboratories would have had the cash flow ability to service the debt service in the proposed <br /> SBA and Economic Development loan. <br /> Interim cash flow is as follows: <br /> WATER LABORATORIES, INC. 05-93 <br /> • Net Income $ 2,352 <br /> Depreciation 1,123 <br /> Amortization 1,275 <br /> Interest Expense 1,201 <br /> TOTAL CASH FLOW $ 5,951 <br /> EXISTING DEBT SERVICE $ 4,140 <br /> EXCESS CASH FLOW $ 1,811 <br /> COVERAGE 1.44 times <br /> One note payable which had an $89 monthly payment was paid off in July 1993, which will <br /> reduce their debt service on existing debt in the future. <br /> 410 <br />